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Smart Shoes Market size is forecast to reach $ 2.8 billion by 2027 - IndustryARC


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The factors such as increasing adoption of technology and the rising popularity are amongst the major factor projected to impel growth of smart shoes market.

HYDERABAD, TELANGANA, INDIA, November 24, 2022 / -- IndustryARC, in its latest report, predicts that the Smart Shoes Market size was valued at $189 million in 2020 and is anticipated to reach $298 million by 2026 growing at a CAGR of 8.8% during the forecast period 2021-2026. The smart shoes industry growth rate is attributed to the rising popularity of smart wearable’s pertaining to increased participation in sports and fitness activities and is expected to bring new opportunities. Smart shoes are based on smart technology, and they are designed to be remotely linked to a user's smartphone, from which a variety of data can be collected. Traditional footwear can now be paired with a number of features such as self-lacing, insoles that allows a consumer to gain insights into different aspects of daily life owing to technological advancements. Smart shoes communicate via Bluetooth and have built-in sensors that track distance traveled on foot, calories burned, and other biometric data related to health. The shoe's sensors can be synced with Google Maps, enabling the user to get precise driving directions. Smart shoes send notifications to the user via vibrations as well as onscreen to the linked smartphone. Furthermore, product innovation and cutting-edge technologies have been at the forefront of driving the trend of smart wearable’s and has thus been quite influential in driving the growth of the global smart shoes market as well.

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Key takeaways:

This IndustryARC report on the Smart Shoes Market highlights the following areas -

1. North America dominated the smart shoes market with a share of 38.16% in the year 2020.

2. The factors such as increasing adoption of technology and the rising popularity towards smart wearable are amongst the major factor projected to impel growth of smart shoes market.

3. Additionally, factors such as increasing demand for tracking and evaluating health metrics is projected to drive the adoption of technology integrated fitness products are to create opportunities paving a way for the growth in the market during forecast period 2021-2026.

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Segmental Analysis:

Smart Shoes Market Segment Analysis - By Distribution Channel : On the basis of distribution channel, specialty stores segment accounted for the largest segmental revenue of the smart shoes market in 2020. The specialty stores segment held the largest market on account of the fact that the consistent increase in number of footwear retail outlets in countries such as Brazil, India, and China is anticipated to positively impact the segment growth.

Smart Shoes Market Segment Analysis - By End Users : On the basis of end users, men segment accounted for the largest segmental revenue of the smart shoes market in 2020 and owing to the fact that dominance of male population in sports and gym activities is anticipated to further bode well for the segment growth and encourage product development.

Smart Shoes Market Segment Analysis - By Geography : North America is the major region dominating the Smart Shoes market with a market share of 38.16% in the year 2020. This can be attributed to the increasing product availability with mass brands in this region has increased the demand for smart shoes in online as well as offline channels.

Competitive Landscape:

The top 5 players in the Smart Shoes Industry are -

1. Nike Inc
2. Adidas AG
3. Under Armour Inc.;
4. Digitsole
5. Puma SE

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IndustryARC is one of the leading market research and consulting firms in the world. It produces over 500 unique market reports annually. If you are looking for a detailed overview of a particular market, you can simply connect with the team at IndustryARC. You can not only buy your preferred market report from the website, but also get personalized assistance on specific reports.

Similar Reports:

A. Footwear Market

B. Wearable Fitness Technology Market

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